CNPV Solar Power, an integrated producer of solar photovoltaic products, has signed a memorandum of understanding (MOU) and strategic collaboration deal with the SolarTec Group.
According to the terms of the agreement, CNPV Solar Power and SolarTec Group will enter into a joint venture on certain projects and a strategic collaboration to supply 300 MW of solar photovoltaic products over a period of three years.
As per the deal, 20 MW of solar photovoltaic products is anticipated to be supplied in 2011 and the remaining in the subsequent two years. The geographical scope of the agreement is mainly on Asia, Africa, Europe and North America.
Denver, Colorado-headquartered SolarTec Group offers multi-discipline services, including commissioning, performance validations, engineering, procurement and construction services. Dr. Neway Argaw, Co-Founder and Chief Executive Officer at SolarTec Group, stated that the company’s scope of studies can cover an extensive range of topics but eventually return to better efficiency, a decrease in customer risk and enhanced cost-effectiveness.
Argaw further said that CNPV Solar Power’s performance capabilities are exceeding industry standards. According to the Chief Operating Officer and Chief Technology Officer at CNPV Solar Power, the company is happy about the deal with SolarTec Group. With additional input from the SolarTec Group, CNPV Solar Power forecasts more developments to meet the demand of the future market, he said.